Maricopa County Real Estate Market Watch: |
The graphics displayed here are related to the Valley of the Sun in Arizona. If you need information on another area of the Valley, call us at (480-595-6412) or email us and we'll help provide those statistics.
May 16, 2012 – Each month about this time we look back at the previous month, analyze how pricing has behaved and report on how well our forecasting techniques performed. We also give a forecast for how pricing will move over the next 30 days.
For the monthly period ending May 15, we are currently recording a sales $/SF of $98.31 averaged for all areas and types across the ARMLS database. This is 5.1% higher than the $93.50 we now measure for April 15. Our forecast range was $95.68 to $99.58 with a mid-point of $97.63. This month the actual value was within 0.7% of the mid-point of the forecast range, so we count ourselves once again content with that result. We have also justified our prediction that positive annual appreciation would be reported from November 29 onwards. Yesterday's price level was 17.7% higher than last year on May 15.
We reiterate our forecast that positive annual appreciation will be recorded throughout 2012 and is likely to easily exceed 25% by September 2012.
Let us know if there is another benchmark that you would like to see that is important to your home search and we'll we'll try to provide it for you.
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